HCA Holdings 2011 Annual Report Download - page 134
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HCA HOLDINGS, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
NOTE 9 — ASSETS AND LIABILITIES MEASURED AT FAIR VALUE (Continued)
December 31, 2010
Fair Value Measurements Using
Fair Value
Quoted Prices in
Active Markets for
Identical Assets
and Liabilities
(Level 1)
Significant Other
Observable Inputs
(Level 2)
Significant
Unobservable Inputs
(Level 3)
Assets:
Investments of insurance subsidiaries:
Debt securities:
States and municipalities ......... $323 $ — $323 $ —
Auction rate securities ........... 250 — — 250
Asset-backed securities ........... 26 — 26 —
Money market funds ............. 135 135 — —
734 135 349 250
Equity securities .................. 8 2 5 1
Investments of insurance
subsidiaries .................. 742 137 354 251
Less amounts classified as current
assets ....................... (100) (100) — —
$ 642 $ 37 $354 $251
Cross currency swap (Other assets) ..... $ 39 $ — $ 39 $ —
Liabilities:
Interest rate swaps (Income taxes and
other liabilities) ................... $426 $ — $426 $ —
The following table summarizes the activity related to the auction rate and equity securities investments of
our insurance subsidiaries which have fair value measurements based on significant unobservable inputs
(Level 3) during the year ended December 31, 2011 (dollars in millions):
Asset balances at December 31, 2010 ............................................. $251
Unrealized losses included in other comprehensive income ............................ (7)
Settlements .................................................................. (112)
Asset balances at December 31, 2011 ............................................. $132
The estimated fair value of our long-term debt was $27.199 billion and $28.738 billion at December 31,
2011 and 2010, respectively, compared to carrying amounts aggregating $27.052 billion and $28.225 billion,
respectively. The estimates of fair value are generally based upon the quoted market prices or quoted market
prices for similar issues of long-term debt with the same maturities.
F-29